Armistice Capital LLC Sells 300,000 Shares of Capri Holdings Limited $CPRI

Key Points

• Armistice Capital LLC reduced its stake in Capri Holdings Limited by 69.0%, now holding 135,000 shares valued at approximately $2.66 million.
• Several hedge funds have increased their positions in Capri, with notable gains including 80.6% from Integrated Wealth Concepts LLC and 28.2% from Northern Trust Corp.
• Capri reported $0.50 earnings per share, surpassing estimates significantly, despite a 6.0% decline in revenue year-over-year.

Armistice Capital LLC lowered its position in Capri Holdings Limited (NYSE:CPRI - Free Report) by 69.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,000 shares of the company's stock after selling 300,000 shares during the quarter. Armistice Capital LLC owned 0.11% of Capri worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in shares of Capri by 10.6% in the first quarter. Primecap Management Co. CA now owns 5,183,720 shares of the company's stock valued at $102,275,000 after buying an additional 495,387 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Capri by 7.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,496,815 shares of the company's stock valued at $49,262,000 after purchasing an additional 172,360 shares during the period. DME Capital Management LP increased its position in Capri by 93.6% during the 4th quarter. DME Capital Management LP now owns 2,103,717 shares of the company's stock valued at $44,304,000 after purchasing an additional 1,017,072 shares during the period. American Century Companies Inc. increased its position in Capri by 143.3% during the 1st quarter. American Century Companies Inc. now owns 2,039,887 shares of the company's stock valued at $40,247,000 after purchasing an additional 1,201,488 shares during the period. Finally, Junto Capital Management LP acquired a new stake in Capri during the 4th quarter valued at approximately $26,112,000. Institutional investors and hedge funds own 84.34% of the company's stock.

Capri Trading Down 2.0%

Shares of CPRI stock traded down $0.45 during trading hours on Friday, hitting $21.32. 2,458,622 shares of the company were exchanged, compared to its average volume of 2,636,085. The firm has a market cap of $2.54 billion, a P/E ratio of -2.27, a P/E/G ratio of 0.47 and a beta of 1.75. Capri Holdings Limited has a fifty-two week low of $11.86 and a fifty-two week high of $43.34. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.61 and a current ratio of 1.17. The company has a 50 day simple moving average of $19.76 and a two-hundred day simple moving average of $18.47.

Capri (NYSE:CPRI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.37. Capri had a negative return on equity of 53.50% and a negative net margin of 26.73%.The company had revenue of $797.00 million for the quarter, compared to analysts' expectations of $773.18 million. During the same period last year, the business earned $0.04 EPS. Capri's quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts anticipate that Capri Holdings Limited will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $22.00 target price (up previously from $20.00) on shares of Capri in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised shares of Capri from a "neutral" rating to an "overweight" rating and increased their target price for the company from $21.00 to $30.00 in a research report on Wednesday, August 13th. Zacks Research raised shares of Capri from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. UBS Group increased their target price on shares of Capri from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Capri from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $24.08.

Capri Profile

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.